Reception area of Mintz Levin Cohn Ferris Glovsky & Popeo..102809
Reception area of Mintz Levin Cohn Ferris Glovsky & Popeo..102809 (Rick Kopstein)

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo expects its 2016 financial results to show gains across its key financial metrics, including a double-digit percentage increase in profits per equity partner and a 3.5 percent rise in revenue.

While its books don’t officially close until April 1, the firm projects that its financial results in 2016 will continue the momentum it built during a record year in 2015, when Mintz Levin posted a 17.7 percent increase in gross revenue over the prior year.

The firm’s 2016 projections put gross revenue at $372.5 million, which constitutes a 3.5 percent increase over 2015. Mintz Levin also projects equity partner profits to climb 10.3 percent to $1.175 million, and revenue per lawyer at the 445-lawyer firm to increase by 3.7 percent to $835,000. Its expected net income is $80 million—a 15.9 percent increase over 2015.

“We’ve literally followed our best year with our best year,” said Mintz Levin managing partner Robert Bodian.

The success, according to Bodian, is due in large measure to well-executed, productive lateral hires and a focus within the firm on collaborating across practice areas and offices.

“The firm has become much more collaborative, which makes a big impact and has also resulted, I think, in deeper relationships with clients,” he said. “That effort is bearing fruit.”

In 2016, the firm’s overall head count dropped slightly to 445 lawyers, compared with 447 in 2015. Mintz Levin’s equity partnership grew 4.6 percent to 68 partners. The firm also had 155 nonequity partners in 2016. Among other hires during the year, Mintz Levin brought on Joshua Briones as its new Los Angeles managing partner, and expanded its health law practice in New York with the addition of Bethany Hills.

Bodian explained that when the firm seeks laterals, it doesn’t look for people who would simply pick up a book of business from their former firm and transplant it to Mintz Levin. Instead, the firm looks for a “seamless fit,” in which the incoming lawyer is well-poised to collaborate with the firm’s existing lawyers. That approach has worked well, he said.

“We’ve had very, very good success with our lateral hires,” he said. “Almost all of them do well.”

Bodian said lawyers in the firm’s life sciences, general litigation and intellectual property litigation practices were very busy in 2016. The firm also played a key role in the battle for control of Viacom Inc., with Mintz Levin’s Elizabeth Burnett representing Shari Redstone, the daughter of former Viacom chairman Sumner Redstone. After a fierce dispute, the Redstones maintained control of the media giant.

Mintz Levin also had some notable deal work in 2016. Its corporate team represented Seventh Generation—a company that sells plant-based detergents and household cleaning items, among other products—in its acquisition by Unilever plc, a deal reportedly worth about $700 million.

Looking ahead, Bodian said the firm plans to expand in California and New York. But in large part, Bodian said his goal as head of the firm is to keep up the growth Mintz Levin has experienced over the past few years.

“It’s mostly the way we’re doing business and upping the game across the board,” he said. “I want to try to sustain that.”

Scott Flaherty covers the business of law with a special focus on plaintiffs firms. He can be reached at sflaherty@alm.com. On Twitter: @sflaherty18.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo expects its 2016 financial results to show gains across its key financial metrics, including a double-digit percentage increase in profits per equity partner and a 3.5 percent rise in revenue.

While its books don’t officially close until April 1, the firm projects that its financial results in 2016 will continue the momentum it built during a record year in 2015, when Mintz Levin posted a 17.7 percent increase in gross revenue over the prior year.

The firm’s 2016 projections put gross revenue at $372.5 million, which constitutes a 3.5 percent increase over 2015. Mintz Levin also projects equity partner profits to climb 10.3 percent to $1.175 million, and revenue per lawyer at the 445-lawyer firm to increase by 3.7 percent to $835,000. Its expected net income is $80 million—a 15.9 percent increase over 2015.

“We’ve literally followed our best year with our best year,” said Mintz Levin managing partner Robert Bodian.

The success, according to Bodian, is due in large measure to well-executed, productive lateral hires and a focus within the firm on collaborating across practice areas and offices.

“The firm has become much more collaborative, which makes a big impact and has also resulted, I think, in deeper relationships with clients,” he said. “That effort is bearing fruit.”

In 2016, the firm’s overall head count dropped slightly to 445 lawyers, compared with 447 in 2015. Mintz Levin ‘s equity partnership grew 4.6 percent to 68 partners. The firm also had 155 nonequity partners in 2016. Among other hires during the year, Mintz Levin brought on Joshua Briones as its new Los Angeles managing partner, and expanded its health law practice in New York with the addition of Bethany Hills.

Bodian explained that when the firm seeks laterals, it doesn’t look for people who would simply pick up a book of business from their former firm and transplant it to Mintz Levin . Instead, the firm looks for a “seamless fit,” in which the incoming lawyer is well-poised to collaborate with the firm’s existing lawyers. That approach has worked well, he said.

“We’ve had very, very good success with our lateral hires,” he said. “Almost all of them do well.”

Bodian said lawyers in the firm’s life sciences, general litigation and intellectual property litigation practices were very busy in 2016. The firm also played a key role in the battle for control of Viacom Inc . , with Mintz Levin ‘s Elizabeth Burnett representing Shari Redstone, the daughter of former Viacom chairman Sumner Redstone. After a fierce dispute, the Redstones maintained control of the media giant.

Mintz Levin also had some notable deal work in 2016. Its corporate team represented Seventh Generation—a company that sells plant-based detergents and household cleaning items, among other products—in its acquisition by Unilever plc, a deal reportedly worth about $700 million.

Looking ahead, Bodian said the firm plans to expand in California and New York . But in large part, Bodian said his goal as head of the firm is to keep up the growth Mintz Levin has experienced over the past few years.

“It’s mostly the way we’re doing business and upping the game across the board,” he said. “I want to try to sustain that.”

Scott Flaherty covers the business of law with a special focus on plaintiffs firms. He can be reached at sflaherty@alm.com. On Twitter: @sflaherty18.